Tayne Law Group

Bankruptcy FAQ

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Bankruptcy FAQ

Bankruptcy is a large topic that can be very confusing! There are many different types of bankruptcies that can have different implications and are suitable for different situations. For instance, some bankruptcies only apply to businesses while others are suitable for consumers. Some types of bankruptcies are a liquidation (meaning all of the assets are liquidated to pay off the debt) while some are simply a restructuring of the debt. Many consumers don’t understand that bankruptcy is complicated and confusing and that it is not your only choice for debt relief.  We’ve collected the most frequently asked questions about bankruptcy into a bankruptcy FAQ section to help you make a decision.

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